BNB Chain in Q3/2022 - Update Information about BNB Chain-Market247.io

Layer-1 networks and crypto assets had a difficult second quarter. A variety of macro pressures reduced user activity and pushed networks downward. Despite these disadvantages, the BNB Chain continued to expand. To help you keep updated with the activities of BNB chain, Market247.io will synthesize information about BNB Chain in Q3/2022 through today's article.

Highlight Events of BNB chain in Q3/2022

Despite market volatility, the BNBChain Ecosystem maintains events, upgrades, and promotion programs to aid in the development of potential projects and to educate users.

July

BNBChain has announced 27 projects that have been selected for MVB V.
BNBChain Partnered with Melos Studio
Rockie and Melos Studio are hosting Music Mania on BNBChain, which was made possible thanks to a partnership between the two companies.
Binance has announced the 20th burning of $BNB
RichQuack Metaverse Sneak Peak
BNBChain has introduced DappBay.
BNB Chain is Making Innovations in Sport Possible by Utilizing NFT Ticketing.

August

BNBCHAIN is now at 2.5 million followers
The TsunamiAPI from PARSIQ is now available on BNBCHAIN.
BNBChain has introduced the Binance Account Bound (BAB) Token
WombatExchange IFO will also be supported on PancakeSwap
BabyDogeCoin announced the launch of BabyDogeSwap.

September

SPACE ID has successfully completed its Seed Round, which was led by Binance Labs.
zkBNB was presented by BNBChain.
Binance Blockchain Week was hosted in Paris
Collaboration between BNBChain and Google Cloud.
BNBChain introduced AvengerDAO

Network Activity of BNB chain in Q3/2022

BNB-chain-thumbnail (4).png

Between July and August, Total Transactions and Daily Active Users (DAU) declined. The numbers began to stabilize and rise modestly in September. During steep declines and frenzies, users sold in a panic and ceased trading. After some time, however, investors and users adapted and resumed trading.

BNBChain maintains a ratio of 2x when compared to Ethereum's total transaction volume. Concurrently with indications like Daily Active User, New Unique Addresses also have a comparable coefficient to the total transaction.

Furthermore, with improvements in width and depth, BNBChain has effectively drawn many new users from other ecosystems and crypto market beginners..

BNB Chain Breakdown

The BNBChain ecosystem intends to develop horizontally in Q3 by launching numerous new projects in MVBV, Monthly Dapp Stars, and Project Spotlights. Infrastructure & Tooling, DeFi, GameFi, Music, SocialFi, NFT, etc. are just a few of the many Lego blocks that make up the projects.

Defi

DeFi projects on BNBChain have regularly modified their tokenomics, business strategies, and incentive methods to correspond with the current market. Simultaneously, exceptional DeFi ventures, such as Wombat Exchange, Stader, and Helio Protocol, emerged in Q3 and attracted a substantial amount of capital into the ecosystem.

MVB V – Uncharted Territory

In the third quarter, MVB V received more than 650 submissions. The BNB Chain Team worked diligently to choose 27 projects in the categories of infrastructure and tools, decentralized finance (DeFi), SocialFi, NFTs, and GameFi.

In addition, MVB V will be significantly different from prior MVB events, with BNB Chain and Binance Labs offering substantial advantages. The incentive consists of Business Development, Alumni Network, Partnership, and Exposure Program, among others.

Binance Account Bound (BAB) Token – Pave the way for Decentralized Society on BNB Chain

The Binance Account Bound (BAB) token is non-transferable and may only be revoked or cancelled by the corresponding user, as it is a unique token that can only be issued upon completion of KYC.

Fourteen BNB Chain ecosystem projects have already committed to providing customers with exclusive use cases related to BAB tokens. The projects on the following list are expected to be the first Web3 platforms to adopt Soulbound coins.

BNB-chain-thumbnail (2).png

BNBChain Introducing AvengerDAO – Leading Security Initiative Protecting Users on BNB Chain

BNB chain 3

The AvengerDAO is a community-operated security infrastructure initiative aiming to safeguard BNB Chain users from potential exploits, scams, and harmful actors. Meter is a passive API system, while Watch is a subscription-based alert system, and Vault is a programmable fund management system. The project demonstrates an unwavering commitment to making the Web3 user experience safer and more entertaining.

Total Value locked

TVL BNB chain

In the third quarter, BNBChain's TVL did not decrease. Instead, it was sustainable at the $5 billion threshold due to the presence of numerous projects with tokenomics upgrades, new reward structures, and new innovations. It demonstrated that the BNB Chain ecosystem is now a great location for earning and investing in the game, particularly with staking, farming, and launchpad.

$BNB Update Information

Key metrics about $BNB

Circulating Supply: 159,979,781.56 BNB
Market Cap: $45,838,968,554
Total Supply: 159,979,964

$BNB Price fluctuation

BNB price fluctuation

Conclusion

After going through activities of BNB chain in Q3/2022, it is clear that the BNB Chain could continue to act as an alternative to Ethereum. Due to its increasing architecture and deployment of zk-rollups and side chains, BNB Chain is in a position to offer additional value propositions to its huge user base. If its plans are executed effectively, BNB Chain may continue to compete in the Layer-1 race as one of the most valued networks in the industry.

Learn more about BNB chain:

FQAs - BNB chain in Q3/2022

What is BNB Chain?

BNB Chain is a decentralized, community-driven, open-source ecosystem. The rebranded BNB Chain includes both the BNB Beacon Chain and the BNB Smart Chain. BNB Beacon Chain (formerly Binance Chain) offers a governance function (i.e., staking and voting). The BNB Smart Chain maintains compatibility with the Ethereum Virtual Machine, implements consensus procedures, and becomes a multi-chain hub.

What is BNB coin ?

Binance Coin (BNB) is a cryptocurrency developed in 2017 by Binance. It is a utility token used to pay transaction fees on Binance's blockchains and to provide traders with discounts on binance.com. Initially, 200,000,000 BNB tokens were generated, of which 100,000,000 were sold via crowdfunding. Every three months, Binance burns a portion of the BNB supply, making BNB a deflationary asset. Binance will cease burning BNB once 50 percent of the initial supply has been used and 100 million BNB remain.

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